New Houston Home Price Record; Finding the Flooding Hotspots


Photo of Elan Heights: Marc Longoria via Swamplot Flickr Pool


11 Comment

  • The HAR continues aping the oil industry by peppering its PR releases with optimistic phrases like “best ever sales,” “boosting supply,” “second highest level of all time,” and “solid buying activity.”

    Then you look at the actual data and things may not be so rosy

  • I mean, seriously: “The brisk pace of sales has come even as Houston’s economy has slowed” could be translated as “people are dumping their houses as they lose their jobs.”

  • I laugh at the Elan Heights (apartment complex pictured) project built 100% in the flood every time I drive by it. They need a sign that reads “no leasing to people that dont know how much this site floods”.

  • Considering home sales are staying strong in spite of slowly eroding regional business conditions I think we should all be happy with this report. But yes, I think this is clearly a case of increasing supply hitting flat demand and previously pent-up buyers jumping on the lower listing prices. Average home prices will continue to set records as the low end of the market/inventory disappears, but no doubt that these record prices are buying more sqft than they were just 2 years ago.
    Considering 2017 will be the hardest year yet for the energy industry I’ve definitely put myself on the sidelines for now. Hoping there’s a growing percentage of energy folks in the same bucket as myself to get prices back in line with historical trendlines based on wages and not speculation.

  • @Bocepheus Don’t know if you have ever noticed but…
    These apartments were built basically on concrete stilts. There is minimal damage done from floods, even with the last few major floods. You can keep laughing though, they say its good for you.

  • Someone needs to take away HAR’s rose-colored glasses.

  • @Bocephus. That’s why the first 3 levels are garage. Just make sure you have good comprehensive coverage on your car insurance!

  • HAR PR people are pretty slick, they would make Joseph Goebbels blush. It’s like calling a catastrophic nuclear reactor explosion an unscheduled exploratory disassembly.

  • I get that the living units are out of the flood, being that they are on stilts. Not even addressing all of the cars that will flood, and the environmental damage, what happens when the hundreds of residents are literally stranded in the midrise. Is there a generator for power, or a boat food delivery system, onsite HPD and paramedics? I see kind of a superdome after Katrina atmosphere in the event of a major flood :)

  • @ Bocephus – The north side of the structure is not in the 100-Yr floodplain… The building should be fully accessible during extreme storm events.

    The south side appears to be 6-8 ft inundated. My guess is they set the first level of parking garage 1-ft above the 100-yr floodplain (I think the COH FMO requires this). So there should be no car damage\environmental impacts.

  • Ha, yea its not in the 100 but its in the 500 (and we all know how accurate those flood maps have been)

    I will leave this here.